Dubai 21st June 2009 – HBG Holdings (“HBG”), a leading Gulf based private equity firm, has today announced it will add staff and expand operations as it sees significant investment opportunities in the region.

HBG is a leading private equity investor and fund management business specialized in facilitating the flow of investment capital from Saudi Arabia and the Gulf into private companies with expansion potential in the MENASA region.

“The regional economy has changed dramatically in the last 12 months but we remain confident that the Gulf economies with their immense financial power are in a unique position to capitalize on the new economic realities”, said Zulfi Hydari, Group Managing Director of HBG.

Despite the economic downturn, leaders from around the world are highlighting the increasingly important role the GCC is expected to play in global financial markets in the years ahead.

Hydari added, “Despite the global crisis, the real economy is projected to grow on average by over 4% per annum through 2011 and this should translate into continued opportunity for investment across all sectors in what is a growing consumer market.”

HBG, which is in the process of expanding its footprint, believes private equity will witness higher returns in the next cycle and is expected to accelerate its investment plans through 2010.

Peter Beynon, Senior Vice President of HBG Holdings said, “Deal flow is vastly improved compared to a year ago but it will take a little more time for valuations to adjust. We are conservative investors and will wait to use our firepower to buy assets at fair valuations.”

HBG is actively looking at hiring senior investment professionals to man its growing network of offices and drive its expansion plans in the region.

“Private equity teams that can demonstrate heritage and experience will continue to attract funding in the coming period. Our approach to current market conditions is to continue adding strategically to our team.” said Mr Beynon.

HBG also confirmed it will continue as lead sponsor of the SuperReturn Middle East Summit in 2009. The SuperReturn private equity summit is the largest and most senior private equity event covering the Middle East, North Africa, Turkey and South Asia region.

The flagship event for the region’s private equity sector will be held in October in Dubai, United Arab Emirates.

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Notes to Editors:

HBG Holdings

HBG Holdings (“HBG”) is a leading private equity investor and fund management business specialized in facilitating the flow of investment capital from Saudi Arabia and the Gulf into private companies with growth potential in the MENASA region.

The firm successfully generates superior returns by leveraging its expertise in acquiring businesses and expanding them regionally through organic growth and “bolt-on” acquisitions, often in close partnership with leading regional partners. Its value creation model is unique in that it assumes direct operational involvement from the firm’s management in the post acquisition phase.

The HBG team is impressive in its heritage, having managed some of the region’s largest businesses and played a leading role in its landmark M&A transactions. The team has vast knowledge of the region accumulated over many decades of operating profitable businesses and executing private equity transactions.

Since its establishment in 2004, the firm has rapidly built a client base of leading private and institutional investors from across the six Gulf Co-operation Council countries and has held stakes in various assets across the region.